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Former Starbucks CEO Howard Schultz has called for a major overhaul of the company amid a sales slump, citing a need to revamp operations and improve the customer experience. Starbucks faces challenges from inflation, competition in China from Luckin Coffee, and a significant drop in sales due to various factors. The company's second-quarter results fell short of expectations, with a 4% decline in global comparable store sales and earnings missing analyst estimates. Despite these challenges, Schultz remains optimistic about Starbucks' recovery, especially in China. Starbucks stock has declined over 31% in the last 12 months, but shares are trading higher in premarket.

Portfolio Pulse from Shivani Kumaresan

May 06, 2024 | 10:31 am

AMKBY

A. P. Moller Maersk (OTC:AMKBY), the world's largest container shipping company, announced that disruptions in the Red Sea, caused by attacks from Iran-aligned Houthi militants, are expected to reduce the shipping industry's capacity between the Far East and Europe by 15%-20% in Q2. These disruptions have forced vessels to reroute, leading to longer journey times and increased freight rates. Maersk has leased over 125,000 additional containers to enhance reliability and address the capacity shortage, with disruptions likely to persist until the end of the year.

Portfolio Pulse from Benzinga Neuro

May 06, 2024 | 9:18 am

GOOGL

TSLA

Texas Governor Greg Abbott's anti-immigration measures along the Texas-Mexico border have led to significant environmental degradation, particularly in Eagle Pass. The construction of a new $170 million facility, Camp Eagle, for Texas National Guards, as part of Operation Lone Star, has exacerbated the situation, costing over $11 billion. The environmental damage has sparked concerns among residents and environmentalists. Meanwhile, tech leaders like Sundar Pichai of Alphabet Inc. and Elon Musk of Tesla Inc. have called for updated U.S. immigration policies to attract AI and tech talent, highlighting the broader implications of immigration policies.

Portfolio Pulse from Benzinga Neuro

May 06, 2024 | 6:03 am

NVO

Elon Musk endorsed Novo Nordisk's Ozempic, a drug primarily for Type 2 diabetes, as a solution to childhood obesity, sparking a conversation on the topic. Musk's support for Ozempic, highlighted in a response to a post about obesity policies on X, brings attention to the obesity issue in the U.S. and Japan. Novo Nordisk, the maker of Ozempic, has also launched Wegovy in Japan to address obesity, amidst concerns over the high cost of these drugs.

Portfolio Pulse from Ananya Gairola

May 06, 2024 | 3:50 am

AAPL

Bloomberg columnist Mark Gurman suggests Apple Inc. should make the iPad a genuine laptop replacement, arguing that the company has been holding back the device's potential. With new iPads set to launch, including models with M4 and M2 chips, Gurman believes Apple should enhance the iPad's capabilities to match those of a laptop, especially in multitasking and hardware, to revitalize its appeal.

Portfolio Pulse from Ananya Gairola

May 06, 2024 | 3:03 am

AAPL

AMZN

GOOG

META

MSFT

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PLTR

SONY

TSLA

UBSFF

Last week in consumer tech saw Amazon's Q1 FY24 sales surpass expectations, Microsoft and Sony enhancing gaming offerings, Ubisoft and Nintendo announcing new game details, and Apple facing challenges with iPhone sales and AI advancements. Elon Musk criticized Meta and highlighted X's design overhaul. Palantir's CEO made controversial remarks, and the EU considered a TikTok ban. Amazon's AI business achieved a multibillion-dollar revenue rate, while Apple teased future AI developments.

Portfolio Pulse from Lekha Gupta

May 06, 2024 | 2:41 am

BTCUSD

DOGEUSD

SOLUSD

The article discusses the reasons behind the growing fatigue among cryptocurrency investors, highlighting the emotional rollercoaster caused by the volatile crypto market. It mentions Tesla's adoption of Dogecoin (DOGE), the performance of Bitcoin (BTC), and the rise of meme coins like dogwifhat (WIF) and Solana (SOL). Despite the market's ups and downs, the article advises against giving up on crypto, citing long-term trends and offering tips from experienced traders on managing the emotional challenges of crypto investing.

Portfolio Pulse from Ivan Crnogatić

May 05, 2024 | 6:53 pm

HIMS

Hims & Hers Health Inc. (NYSE:HIMS) stock dropped 8% after CEO Andrew Dudum expressed support for pro-Palestinian protesters, causing controversy. The stock slightly recovered by 0.89% in after-hours trading. Dudum's comments on X (formerly Twitter) have drawn criticism from notable figures. Prior to this, the company had bullish investor sentiment and a positive analyst outlook, but this incident could affect future projections.

Portfolio Pulse from Bibhu Pattnaik

May 05, 2024 | 3:01 pm

INTC